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Management culture in the secret service which condones corner cutting. >> reporter: the incident adds to a long list of embarrassments in the last few years. last month a man was take noon custody after jumping over a white house fence while the first family was inside celebrating thanksgiving. also in november, a secret service officer assigned to the white house was arrested after he was caught in a sting, allegedly sending naked picture of himself to someone he thought was a 14-year-old girl. last september, a man jumped the white house fence with a knife in his pocket, reaching the mansio...

With secret service culture, a culture that you characterize as one of coverup and corner cutting. explain what you mean there. >> as one example, when gun shots were fired at the white house in 2011 a uniformed officer reported that and her supervisor said it's just a construction site noise and she said later she didn't press the point because she was afraid of being criticized. in other words, the person who is reporting threats and problems fears she can't say anything. there is this culture that punishes agents for reporting problems. the problem is not the agents themselves. overall they...

Factors that go into this. >> is there an issue in terms of pilot training the difference in standards and the way they manage a cockpit and pilots work together in asia with these kinds of airlines versus southwest or any of the large american carriers. airasia workers are sophisticated and realize any cut in training any corner-cutting is expensive. we have seen no indications of other low-cost carriers to have any major problems with pilot training being corner-cut or maintenance being reduced. that's just not in the cards over there. >> what would you suspect was going on in the cockpit du...

Service director. she essentially was a clone of mark sullivan, the previous director, who presided over these scandals over the solahi intrusion and the cartagena scandal. she has done nothing whatsoever to change this culture on the management level of corner cutting. many things she did was issued a memo reminding agents they should maintain a professional appearance. well, it reminds me of jay edgar hoover who insisted on everyone looking wonderful. but at the same time presided over a range of abuses. and the only way to really change the culture is to bring in a new director from the out...

Libor scandal and near our "times" piece in the paper today looking to build a criminal case around it. paragreem looks like a mini madoff situation in which a guy stole $100 million of his client's money and what the culture or finance is and whether or not it's systematically driven towards corner cutting. stephen, something you want to say. >> well, sprouppose it's true at finance. that's something that is true in american life. seems endemic to the kind of things that we do and the kind of practices you refer to, pushing people into subprime loan is a terrible thing to do. on the other han...